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    Question

    A sum of money will amount to Rs. 480 in 2 year & in

    3 year it is to be 540 in compound interest . Find the rate of interest?
    A 6.25% Correct Answer Incorrect Answer
    B 50% Correct Answer Incorrect Answer
    C 40% Correct Answer Incorrect Answer
    D 12.5% Correct Answer Incorrect Answer

    Solution

    Rate of interest = (540 - 480)/480 × 100 = 60/480 × 100 = 12.5%

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